Intesa and BAML show senior demand persists

Intesa Sanpaolo took European money market funds’ investment mandates to the limit this week while Bank of America hit Europe for benchmarks in two different currencies, proving there is still life in the senior unsecured market this year despite the froth being removed from order books.

By Tom Porter

06 Dec 2013

Intesa’s trade took Italian senior supply in euros for the fourth quarter above €5bn. Only France, with €7bn, has produced more. Nor will this be the last from Italy before the end of the year, according to bankers in the country. Smaller institutions are said to be looking
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